New Delhi, Jun 25 (PTI) Matrix Partners India has led a USD 5 million (about Rs 38.5 crore) funding round in OZiva, a plant-based nutrition brand.

The series A funding round also saw participation from existing investor, Titan Capital, a statement on Thursday said.

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The infusion of capital will be used to invest deeper in R&D, technology, team expansion, as well as widen their customer base, a statement said.

OZiva was founded by Aarti Gill and Mihir Gadani in 2016 and offers products ranging from everyday fitness to skin and hair nutrition. It specifically serves the 18-55-year-old age group, with women as their primary target audience.

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"Having a strong digital ecosystem and personalised consultations has helped us in delivering more than just the product and has reflected in our growth numbers as well as unit economics. We will keep investing and creating solutions focusing around 3 pillars of fitness - nutrition, workouts & mental wellness," Gill said.

Sanjot Malhi, Director at Matrix India said the company is excited about backing the best new-age consumer brands and firmly believes in the potential of the under-tapped health and nutrition space in India.

"(OZiva's) maniacal product focus using the highest quality ingredients, as well as leveraging the power of content and community to educate and learn from consumers makes it a truly differentiated offering. We are thrilled to partner with Aarti and Mihir on this journey," Malhi said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)